A shopkeeper buys an article for Rs. 500 and sells it for

Q) A shopkeeper buys an article for Rs. 500 and sells it for Rs. 650. Find the profit percentage.

Ans: [Approach: % Profit is calculated by $\frac{Profit}{Cost ~price}$ x 100″. Hence, if we calculate the profit, we can calculate % profit]

Step 1: Profit = Selling Price – Cost Price = 650 – 500 = Rs. 150

Step 2: Next, the formula for % profit is: Profit % = $\frac{Profit}{Cost ~Price}$ x 100

= $\frac{150}{500}$ x 100

= $\frac{3}{10}$ x 100

= $\frac{3 \times 100}{10}$

= 30%

Therefore, the profit percentage is 30%.

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